Why Market Data Matters Now More Than Ever

Who’s with you today? Mike Simonsen, Co-Founder & CEO [email_address] (415) 302 1573 Twitter: @mikesimonsen Scott Sambucci, VP, Sales & Data Analytics [email_address] (415) 931 7942 Twitter: @AltosResearch | @scottsambucci www.altosresearch.com

Mike Simonsen, Co-Founder & CEO

[email_address]

(415) 302 1573

Twitter: @mikesimonsen

Scott Sambucci, VP, Sales & Data Analytics

[email_address]

(415) 931 7942

Twitter: @AltosResearch | @scottsambucci

www.altosresearch.com

Just For REBarcamp Attendees Posting this presentation online – we’ll email the link Send you a Personalized Market Report to use next week Buyer Meetings coming up? Listings Presentations Current Listings/Sellers – helping them really see the market

Posting this presentation online – we’ll email the link

Send you a Personalized Market Report to use next week

Buyer Meetings coming up?

Listings Presentations

Current Listings/Sellers – helping them really see the market

Only Three Questions What’s for sale? IDX Search How much is my house worth? CMA How’s the market? This is your opening!

What’s for sale?

IDX Search

How much is my house worth?

CMA

How’s the market?

This is your opening!

When they ask, “How’s the market?” “ I want to participate, show me how I can/why I should?” They know the market is bad… But how is it good for them? A “buying” signal Buying your services – they need an expert Compelling to action – they want guidance

“ I want to participate, show me how I can/why I should?”

They know the market is bad…

But how is it good for them?

A “buying” signal

Buying your services – they need an expert

Compelling to action – they want guidance

Principles & Technique: “Let Me Show You What I Mean” Be prepared With clients, plan the story in advance The story is your chance to engage Be transparent Address their unasked questions - honestly Confused people don’t buy! Be the expert What aren’t they expecting? Setting price, market time expectations

Be prepared

With clients, plan the story in advance

The story is your chance to engage

Be transparent

Address their unasked questions - honestly

Confused people don’t buy!

Be the expert

What aren’t they expecting?

Setting price, market time expectations

Sometimes the Data ≠ Headlines Scottsdale dropped a little – but mostly held strong! Phoenix has been down – but picking up this Spring!

Get Local! Comparing Zips to Set Expectations

How and When to Use The Data On the web, blog Prospecting, relationship & trust building Lead conversion In person Listing presentation / buyer meetings With active listings – Keep clients updated In the yard sign “I sold this home in a week. Ask me how.” In their inbox Weekly market Reports Part of your drip, one of your touches

On the web, blog

Prospecting, relationship & trust building

Lead conversion

In person

Listing presentation / buyer meetings

With active listings – Keep clients updated

In the yard sign “I sold this home in a week. Ask me how.”

In their inbox

Weekly market Reports

Part of your drip, one of your touches

Strategies for Data on Your Website “ Soft Sell” “ Hard Sell” Blog Posts Dedicated Local Pages Chart Widgets Sample Reports Lead Form Call to Action Relationships, inform Convert visitors to leads Goals: Presentation: Style: Personality, quantity High profile data, fewer options Approach:

Great Web Site Samples Real Estate Bloggers www.MovinMaryland.com - Audrey Forshey www.BlogTheRockies.com - Ro Troia www.AtHomeInScottsdale.com - Dru Bloomfield www.BlogByTheBay.com -Ginger Wilcox Local Market Pages www.OCExclusives.com – Jessie Brossa www.StlHomeData.com – Eric Stegemann www.LoCoMarketStats.com – Heather Elias The Three Questions www.Housechick.com – Kelley Koehler Lead Focused www.TheHarperTeam.com – John Harper

Real Estate Bloggers

www.MovinMaryland.com - Audrey Forshey

www.BlogTheRockies.com - Ro Troia

www.AtHomeInScottsdale.com - Dru Bloomfield

www.BlogByTheBay.com -Ginger Wilcox

Local Market Pages

www.OCExclusives.com – Jessie Brossa

www.StlHomeData.com – Eric Stegemann

www.LoCoMarketStats.com – Heather Elias

The Three Questions

www.Housechick.com – Kelley Koehler

Lead Focused

www.TheHarperTeam.com – John Harper

More Than Just a Price Trend Setting seller expectations Percent Price Decreased: “This is what happens to the over-pricers” DoM: “here’s what we’re looking at…” Buyer off the fence Inventory: “You’re in the highest-demand segment” Average vs. Median DoM: the best properties moving more quickly

Setting seller expectations

Percent Price Decreased: “This is what happens to the over-pricers”

DoM: “here’s what we’re looking at…”

Buyer off the fence

Inventory: “You’re in the highest-demand segment”

Average vs. Median DoM: the best properties moving more quickly

Inventory : Understanding Buyer & Seller “Competition” Don’t assume clients know these trends!

Inventory Trends: Davis, CA

Setting the Price Right & Knowing the Market % Price Decreased : Measures the number of active listings that have experienced a price reduction in the last 90 days

Trends: New vs Pending Listings New Listings are pricing below the Market Median, and falling! (orange) And the good deals are disappearing! (green)

Market Analysis by Price Level (“Quartile”) Quartile 1: Most expensive 25% of properties Quartile 2: Top Middle 25% Quartile 3: Bottom Middle 25% Quartile 4: Least expensive 25% of properties Example: 80 homes for sale in a market (city or zip code) 4 "quartiles" (groups) each have 20 properties based on individual property prices. Allows for market definition by price, not just geography

Quartile 1: Most expensive 25% of properties

Quartile 2: Top Middle 25%

Quartile 3: Bottom Middle 25%

Quartile 4: Least expensive 25% of properties

Example: 80 homes for sale in a market (city or zip code)

4 "quartiles" (groups) each have 20 properties based on individual property prices.

Allows for market definition by price, not just geography

Days-on-Market by “Quartile” Significantly higher DoM in most expensive price segment compared to middle price segments

Market Activity by “Quartile” The bottom 50% of the market has the most activity – Implications for both Sellers AND Buyers?

Characteristics per Quartile (Davis, CA) Source: Altos Research Market Report, 8/03/09

Key Takeaways: How do you answer, “How’s The Market?” Use the data to illustrate your expertise Clients want the insights/statistics/guidance no matter how you reach them: web, email, print, face-to-face

How do you answer, “How’s The Market?”

Use the data to illustrate your expertise

Clients want the insights/statistics/guidance no matter how you reach them: web, email, print, face-to-face

Just For REBarcamp Attendees Posting this presentation online to Slideshare Send you a Personalized Market Report to use next week Buyer Meetings coming up? Listings Presentations Sellers – helping them really see the market

Posting this presentation online to Slideshare

Send you a Personalized Market Report to use next week

Buyer Meetings coming up?

Listings Presentations

Sellers – helping them really see the market

Contact Us! Scott Sambucci, VP Data Analytics [email_address] (415) 931 7942 Twitter: @AltosResearch Ricky Fernandez, Product Specialist [email_address] (888) 819-7775 x.2 Twitter: @AltosSalesDude

Scott Sambucci, VP Data Analytics

[email_address]

(415) 931 7942

Twitter: @AltosResearch

Ricky Fernandez, Product Specialist

[email_address]

(888) 819-7775 x.2

Twitter: @AltosSalesDude